After the government promulgated onerous amendments to the Trust Property Control Act (TPCA) on December 22, 2022, and issued regulations for its implementation on March 31, 2023, the Department of Justice and Constitutional Development issued a media statement reminding (informing) the public that these new measures have come into effect from 1 April 2023 with the heading “Increased measures for Trusts to combat money-laundering and terrorism financing crimes”.
Although many believe that this is a government initiative, the media statement reminded us that South Africa is obliged, as a member of the Financial Action Task Force (FATF),
